Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $21.11.

A number of brokerages recently weighed in on RLAY. The Goldman Sachs Group initiated coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They set a “buy” rating and a $20.00 target price on the stock. HC Wainwright upped their price objective on Relay Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $10.60 to $16.00 in a report on Tuesday, September 10th. Finally, Barclays upped their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th.

Relay Therapeutics Price Performance

RLAY stock opened at $6.49 on Thursday. The stock has a market capitalization of $861.50 million, a P/E ratio of -2.46 and a beta of 1.64. Relay Therapeutics has a fifty-two week low of $5.70 and a fifty-two week high of $12.14. The business has a 50-day moving average of $7.31 and a 200-day moving average of $7.19.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same quarter in the prior year, the firm earned ($0.81) EPS. Equities analysts expect that Relay Therapeutics will post -2.84 EPS for the current year.

Insider Buying and Selling

In related news, CFO Thomas Catinazzo sold 10,780 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $8.56, for a total value of $92,276.80. Following the completion of the transaction, the chief financial officer now owns 319,650 shares of the company’s stock, valued at approximately $2,736,204. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Thomas Catinazzo sold 10,780 shares of Relay Therapeutics stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $8.56, for a total transaction of $92,276.80. Following the sale, the chief financial officer now directly owns 319,650 shares of the company’s stock, valued at $2,736,204. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Rahmer sold 13,523 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $8.54, for a total value of $115,486.42. Following the completion of the transaction, the insider now directly owns 420,765 shares of the company’s stock, valued at approximately $3,593,333.10. The disclosure for this sale can be found here. Insiders sold a total of 74,717 shares of company stock worth $652,955 in the last ninety days. 4.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. increased its position in Relay Therapeutics by 4.0% during the 1st quarter. American International Group Inc. now owns 46,686 shares of the company’s stock valued at $387,000 after purchasing an additional 1,810 shares during the period. Congress Asset Management Co. MA increased its stake in Relay Therapeutics by 1.4% in the first quarter. Congress Asset Management Co. MA now owns 149,082 shares of the company’s stock valued at $1,237,000 after purchasing an additional 2,108 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Relay Therapeutics by 25.7% during the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock valued at $116,000 after purchasing an additional 2,850 shares during the period. ProShare Advisors LLC grew its stake in shares of Relay Therapeutics by 14.9% in the 1st quarter. ProShare Advisors LLC now owns 26,214 shares of the company’s stock valued at $218,000 after buying an additional 3,394 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Relay Therapeutics by 7.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,917 shares of the company’s stock valued at $456,000 after buying an additional 3,684 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.